Bosch Leads Blockchain-Based Project for Digital Mobility Backed by German Government
The engineering and technology company Bosch is spearheading a new, blockchain-based digital mobility project with support from the German government. The project was showcased live at the IAA Mobility 2023 event in Munich, Germany.
Bosch, in collaboration with MOBIX and the Peaq blockchain, unveiled a peer-to-peer parking and charging scheme that utilizes moveIDs on the Peaq ecosystem. These moveIDs serve as self-sovereign identities (SSIs) built on the blockchain, enabling autonomous transactions between vehicles and connected infrastructure. At the IAA Mobility event, the demonstration highlighted the potential of autonomous transactions between connected devices, such as a smart car, charging station, and parking signal.
Cointelegraph had the opportunity to speak with Peter Busch, the project lead for moveID and product owner for Distributed Ledger Technologies (Mobility) at Bosch, and Leonard Dorlöchter, co-founder of Peaq. They shed light on how blockchain technology is driving the future of mobility.
Dorlöchter explained why the mobility sector is an ideal starting point for implementing self-sovereign identities on a large scale. He noted, “With mobility, there’s a lot of fragmentation.” In the realm of mobility, the goal for users is to navigate from one point to another, whether it’s via public transport, micro-mobility scooters, car sharing, or personal cars that require parking spots and charging.
Dorlöchter emphasized the benefits of utilizing blockchain technology in the mobility sector, stating, “If this is happening on the blockchain, an open ecosystem, then everyone can have a seamless experience and also find the best services, best parking and charging spots.”
Busch highlighted the significance of decentralized identities for items on open blockchain networks. He referred to them as the “most promising technology” because they allow authentication and identification of devices without the need for an intermediate authority. This ensures data sovereignty for users, as they have full control over their own data during transactions such as charging a vehicle.
One of the main goals of the project is to create a standardized technological integration with other automotive players in Germany and across Europe. Busch also mentioned that the project showcases how Web3 and decentralization can aid in data and privacy compliance, particularly with regard to European GDPR regulations. He noted, “The EU government is planning to demand that every person in the EU in the future has a decentralized ID.”
The initiative is part of a larger European Union-funded project called Gaia-X, which aims to establish a federated and secure data infrastructure for European digital sovereignty and lay the groundwork for future smart cities. Busch emphasized the importance of designing systems that are user-friendly and accessible to everyone.
Dorlöchter envisioned a future smart city as a web of interconnected things that require an identity and an open system. In his view, building such a city on a Web2 platform would not be effective. He said, “The Internet of Things (IoT) turns into the Economy of Things (EoT) because all of those things have some economic value and that’s the future. The future of AI automation will be economic activity and machines will do what’s necessary to support society.”
To make this vision a reality, Dorlöchter stressed the need for open and decentralized systems, particularly ones that have an interoperability component, allowing everyone to participate in the earnings.
The project led by Bosch, MOBIX, and Peaq demonstrates the potential of blockchain technology in revolutionizing the mobility sector and paving the way for a future of connected and autonomous transportation systems.
Sources:
– Bosch: [Self-Sovereign Identities](https://www.bosch.com/stories/self-sovereign-identities/)
– Cointelegraph: [Democratizing and Decentralizing Web3 Ride-Sharing](https://cointelegraph.com/news/100-teslas-democratize-and-decentralize-web3-ride-sharing)
– Cointelegraph: [AI and Blockchain Reshaping Sectors](https://cointelegraph.com/news/ai-blockchain-shrink-sectors-create-new-markets-moodys)
– Cointelegraph: [Data and Privacy Compliance with European GDPR](https://cointelegraph.com/news/eu-data-watchdog-warns-of-hell-on-earth-scenario-for-us-ai-companies)
– Cointelegraph: [Bosch Partners with AI Firm for Web3 Development](https://cointelegraph.com/news/bosch-partners-in-100-million-web3-development-foundation)
– Cointelegraph: [The Central Role of Crypto Payments](https://cointelegraph.com/news/the-future-economy-anticipating-the-central-role-of-crypto-payments-in-financial-transactions)
– Cointelegraph: [Blockchain Games and Decentralized Lattice](https://cointelegraph.com/magazine/blockchain-games-decentralized-lattice-starknet-cartridge/)
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About the author - J-S Tremblay
I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...
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